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View Diary: Blame China, blame us (10 comments)

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  •  Your question seems to be a no brainer (none)
    Why should  people purchase  expensive goods instead of  cheap? Has this ever worked  before?
    •  RE: Your question seems to be a no brainer (none)
      Why should  people purchase  expensive goods instead of  cheap

      I will answer your question with a question. Why should a nation be forced to compete with other nations with one tenth the labor costs and nowhere near the same evironmental standards, rule of law, etc.

      Has this ever worked before? The question is in fact rhetorical because one cannot appy Ricardian theory to what is now occurring. That is to say it has never been tried before.

      China, India, Taiwan, etc. force a home bias on some of their products. To protect their markets. Just google 'China tariffs. We have done almost none of this. Instead we opt for what we now call 'free trade'.

      At what point do we draw the line in our quest for 'cheap'? When there is nothing but low wage service jobs left in the U.S.? How do we buy cheap stuff when, at some point, we too are making eleven cents an hour?

      thunder's just the noise boys, lightnin' does the work - Chad Brock

      by superscalar on Tue Apr 26, 2005 at 05:46:24 PM PDT

      [ Parent ]

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